Kaleyra, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangible Assets, Net

Goodwill and Intangible Assets, Net

6 Months Ended

Jun. 30, 2020

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets, Net

5. GOODWILL AND INTANGIBLE ASSETS, NET

Goodwill

Goodwill as of June 30, 2020 and December 31, 2019 was as follows (in thousands):

Balance as of December 31, 2019	$	16,953
Effect of exchange rate		(657	)
Balance as of June 30, 2020	$	16,296

Intangible assets, net

Intangible assets consisted of the following (in thousands):

	As of June 30, 2020						As of December 31, 2019
	Gross		Accumulated Amortization		Net		Gross		Accumulated Amortization		Net
Amortizable Intangible Assets:
Developed technology	$	2,703	$	1,232	$	1,471	$	2,775	$	952	$	1,823
Customer relationships		8,739		2,063		6,676		9,077		1,631		7,446
Patent		121		39		82		113		29		84
Total amortizable intangible assets	$	11,563	$	3,334	$	8,229	$	11,965	$	2,612	$	9,353

Amortization expense was $406,000 and $448,000 for the three months ended June 30, 2020 and 2019, respectively, and $828,000 and $897,000 for the six months ended June 30, 2020 and 2019, respectively.

Total estimated future amortization expense as of June 30, 2020 is as follows (in thousands):

	As of June 30, 2020
2020 (remaining six months)	$	807
2021		1,405
2022		1,135
2023		1,033
2024		832
2025 and thereafter		3,017
Total	$	8,229